W3, and blockchain adoption.
Binance Labs intends to distribute the most recent $500 million fund to projects at various phases of development, including incubation, early-stage, and late-stage growth.
Binance Labs, the investment arm of cryptocurrency behemoth Binance, has announced a $500 million fund in collaboration with global investors such as DST Global Partners and Breyer Capital to spur innovation across the crypto, Web3, and blockchain landscapes.
Binance Labs intends to distribute the most recent $500 million fund to projects at various phases of development, including incubation, early-stage, and late-stage growth.
Changpeng "CZ" Zhao, CEO of Binance, acknowledged the importance of a relationship between values, people, and economies when discussing how to accelerate the adoption of the crypto ecosystem: The newly launched investment fund's mission is to find and assist projects and creators who have the potential to build and lead Web3 spanning DeFi, NFTs, gaming, metaverse, social, and other areas.
Binance Labs was founded in 2018, and since then, it has invested in and incubated over 100 startups throughout the world. 1inch, Axie Infinity, Dune Analytics, Elrond, Polygon, and The Sandbox are among the notable companies in its portfolio.
Several former Binance employees lead funding rounds to help Old Fashion Research (OFR), a multi-strategy blockchain investment fund, invest in over 50 blockchain businesses in just one year.
